Wall Street analysts forecast that Berkshire Hills Bancorp, Inc. (NYSE:BHLB) will post $0.64 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Berkshire Hills Bancorp’s earnings. The lowest EPS estimate is $0.63 and the highest is $0.65. Berkshire Hills Bancorp reported earnings of $0.55 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 16.4%. The business is scheduled to report its next quarterly earnings report on Monday, April 23rd.
On average, analysts expect that Berkshire Hills Bancorp will report full-year earnings of $2.72 per share for the current fiscal year, with EPS estimates ranging from $2.70 to $2.74. For the next fiscal year, analysts anticipate that the firm will post earnings of $3.07 per share, with EPS estimates ranging from $3.00 to $3.20. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Berkshire Hills Bancorp.
Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings data on Thursday, January 25th. The savings and loans company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. The company had revenue of $115.66 million for the quarter, compared to analysts’ expectations of $115.50 million. Berkshire Hills Bancorp had a net margin of 11.37% and a return on equity of 7.44%.
In other Berkshire Hills Bancorp news, Director James Williar Dunlaevy sold 7,455 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $39.30, for a total transaction of $292,981.50. Following the sale, the director now directly owns 67,747 shares in the company, valued at approximately $2,662,457.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael D. Carroll sold 2,000 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $38.50, for a total transaction of $77,000.00. Following the sale, the insider now owns 7,255 shares in the company, valued at $279,317.50. The disclosure for this sale can be found here. 2.82% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. UBS Asset Management Americas Inc. boosted its position in shares of Berkshire Hills Bancorp by 47.8% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 18,661 shares of the savings and loans company’s stock worth $656,000 after purchasing an additional 6,034 shares in the last quarter. Eagle Boston Investment Management Inc. boosted its position in shares of Berkshire Hills Bancorp by 1.7% in the 3rd quarter. Eagle Boston Investment Management Inc. now owns 268,482 shares of the savings and loans company’s stock worth $10,618,000 after buying an additional 4,408 shares in the last quarter. Jacobs Asset Management LLC boosted its position in shares of Berkshire Hills Bancorp by 1.2% in the 3rd quarter. Jacobs Asset Management LLC now owns 836,034 shares of the savings and loans company’s stock worth $32,396,000 after buying an additional 10,000 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Berkshire Hills Bancorp by 6.2% in the 3rd quarter. Stifel Financial Corp now owns 82,855 shares of the savings and loans company’s stock worth $3,211,000 after buying an additional 4,855 shares in the last quarter. Finally, Koch Industries Inc. purchased a new stake in shares of Berkshire Hills Bancorp in the 2nd quarter worth about $288,000. Institutional investors own 67.23% of the company’s stock.
Shares of Berkshire Hills Bancorp (NYSE:BHLB) traded down $0.10 on Friday, reaching $38.15. 211,778 shares of the company’s stock traded hands, compared to its average volume of 212,739. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.33. The firm has a market cap of $1,727.81, a PE ratio of 25.78 and a beta of 0.70. Berkshire Hills Bancorp has a 12 month low of $32.85 and a 12 month high of $40.00.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be given a dividend of $0.22 per share. This is a positive change from Berkshire Hills Bancorp’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Wednesday, February 14th. Berkshire Hills Bancorp’s payout ratio is presently 56.76%.
Berkshire Hills Bancorp Company Profile
Berkshire Hills Bancorp, Inc (Berkshire) is a holding company for Berkshire Bank (the Bank) and Berkshire Insurance Group. Berkshire offers a range of deposit, lending, insurance and wealth management products to retail, commercial, not-for-profit and municipal customers in its market areas. Berkshire product offerings also include retail and commercial electronic banking, commercial cash management and commercial interest rate swaps.
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